Looking again at the Big Picture
There is a resistance ledge that seems to be failing on the weekly time frame of the US30.
Why do I think it's failing? I see three candle wicks in the ledge, which informs me that there is serious bear pressure in what is a bear market (at this time). Am I saying it is going to fail and go south? No - I'm not saying that.
What I am saying is that the greater probability at this time is for the south. This means that there is also a probability for the north. Yes - ledges do fail in bear markets.
Most people do not play in the weekly picture. However, I look at higher time frames to inform me of risk on lower time frames.
But there is an even bigger picture in all the worlds markets. Avoid the news except to attempt to manage systematic risk.
Why do I think it's failing? I see three candle wicks in the ledge, which informs me that there is serious bear pressure in what is a bear market (at this time). Am I saying it is going to fail and go south? No - I'm not saying that.
What I am saying is that the greater probability at this time is for the south. This means that there is also a probability for the north. Yes - ledges do fail in bear markets.
Most people do not play in the weekly picture. However, I look at higher time frames to inform me of risk on lower time frames.
But there is an even bigger picture in all the worlds markets. Avoid the news except to attempt to manage systematic risk.
FED balance sheet 42% of GDP @ 2020-01-26. Does money have value anymore? [Different perspective on the virus youtu.be/NjTdvALChwk ]
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.